MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Buys Shares of 10,300 International Business Machines Co. (NYSE:IBM)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new stake in shares of International Business Machines Co. (NYSE:IBM) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 10,300 shares of the technology company’s stock, valued at approximately $1,967,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of International Business Machines in the fourth quarter worth $1,019,009,000. International Assets Investment Management LLC boosted its position in shares of International Business Machines by 15,439.1% during the fourth quarter. International Assets Investment Management LLC now owns 2,653,462 shares of the technology company’s stock worth $433,974,000 after acquiring an additional 2,636,386 shares during the last quarter. Morgan Stanley boosted its position in shares of International Business Machines by 13.4% during the third quarter. Morgan Stanley now owns 16,257,789 shares of the technology company’s stock worth $2,280,968,000 after acquiring an additional 1,919,490 shares during the last quarter. Capital Wealth Planning LLC bought a new position in shares of International Business Machines during the fourth quarter worth $172,887,000. Finally, Junto Capital Management LP bought a new position in shares of International Business Machines during the fourth quarter worth $62,020,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on IBM. BNP Paribas began coverage on shares of International Business Machines in a research report on Thursday, May 2nd. They set an “underperform” rating and a $145.00 target price for the company. The Goldman Sachs Group began coverage on shares of International Business Machines in a research report on Monday, June 24th. They set a “buy” rating and a $200.00 target price for the company. Morgan Stanley lowered their price objective on shares of International Business Machines from $186.00 to $179.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Stifel Nicolaus reiterated a “buy” rating and set a $190.00 price objective on shares of International Business Machines in a research report on Thursday, May 16th. Finally, Bank of America increased their price objective on shares of International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $182.53.

International Business Machines Price Performance

International Business Machines stock opened at $177.31 on Wednesday. The firm has a 50-day moving average price of $169.82 and a 200-day moving average price of $176.66. The firm has a market capitalization of $162.88 billion, a PE ratio of 20.08, a price-to-earnings-growth ratio of 4.27 and a beta of 0.71. The company has a current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 2.32. International Business Machines Co. has a 12-month low of $131.55 and a 12-month high of $199.18.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.59 by $0.09. The company had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The firm’s revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.36 EPS. As a group, equities research analysts forecast that International Business Machines Co. will post 9.9 EPS for the current year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were paid a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 3.77%. The ex-dividend date of this dividend was Thursday, May 9th. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s dividend payout ratio (DPR) is currently 75.65%.

International Business Machines Profile

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.